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Los Angeles Airbnb Market Analysis & Price Prediction

Motivation:

  1. Growing demand and popularity in Aribnb as alternatives to Hotels

  2. Investigate what factors influence Airbnb pricing the most


Project Details:

1. Programming Language: Python

2. Data Source: Inside Airbnb

3. Explantory Data Analysis (Bar Charts):

  • Reasons for analyzing LA instead of other cities in California (Figure 1 & 2)
  • Average listing price per neighborhood (Figure 3)
  • Numbers of rooms offered by type (Figure 4)

4. Correlation (Heatmaps)

  • Bedroom features and price
  • Days availability and price
  • Reviews and price

5. Price Prediction Analysis

  • OLS Regression
  • Linear Regression

Conclusion

Answer to the initial question: What Factors Affect Airbnb Pricing the Most?

  • Bedroom features: number of bedrooms, accomodates, and beds
  • Other factors that also impacted: location and neighborhood

Idea: Price is likely to fluctuate according to the amenities supplied in each individual listing

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Price predictions on LA Airbnbs

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